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End of Professional Development Cycle

What if you are not compliant?



The 2019-2021 professional development cycle will end on November 30, 2021. According to the Regulation respecting the compulsory professional development of financial planners, the IQPF has to send all financial planners a PDU statement within 30 days of the end of the cycle. For those that are not compliant, the last statement will be sent on November 22, 2021.

What to expect if you didn't accumulate all your PDUs

If you aren't compliant, your right to practise may be suspended. The information provided below comes from the Autorité des marchés financiers (AMF)'s website.

At the end of the cycle, the IQPF will send a notice of non-compliance to financial planners in default. The notice will state that the F.Pl. must submit proof before December 2021 that the required training was completed during the reference period.

The IQPF will then send the AMF a notice of non-compliance for all F.Pl. who have not completed their PDUs or updated their record.

In January 2022, the AMF will send all financial planners who have not complied a notice preceding issuance of a decision suspending their right to practice. This is sent 15 days prior to the suspension of the certificate.

You then have 4 options:

1. If an error has been made in the calculation of your PDUs

Contact the IQPF to have your record corrected. Where applicable, the AMF will receive a notice to prevent the suspension of your certificate.

2. Removing a sector

You can avoid a suspension by removing the financial planning sector. Your withdrawal application must be submitted and processed by the AMF.

If you want to practise in the sector again, you will need to apply for reinstatement.

3. If you wish to contest your suspension

You can send your observations and documents to the AMF within 15 days of the date of the prior notice you received.

You can send your observations and documents:

Via AMF E-Services, under the Other application/request tab, select Other application/request - Training and qualification.

By mail:

Autorité des marchés financiers
Direction de la certification et de l’inscription
Place de la Cité, tour Cominar
2640, boulevard Laurier,
4e étage Québec (Québec) G1V 5C1

4. Let the suspension follow its course

Fifteen days after the prior notice is sent, the AMF sends a suspension decision to F.Pl. who have still not completed their PDUs. A message is also sent to the firm to which they are attached.

The financial planner must cease to pursue financial planning activities until the suspension is lifted.

If you are suspended

To lift the suspension of your representative's certificate, you must complete the missing PDUs with the IQPF, then update your PDU record. As soon as the IQPF has calculated the PDUs in your record, the AMF will be notified and will lift the suspension of your certificate.